China’s Iron Ore Imports Rise 4.1% to Bolster Dry Bulk Shipping

Mainland China's seaborne iron ore imports continued to expand over the first nine months of 2026, providing crucial support to the global dry bulk shipping sector, according to a report by shipbroker Banchero Costa published by Hellenic Shipping News Worldwide.

Between January and September 2026, Chinese iron ore imports reached 967.8 million tonnes, representing a 4.1% increase year-on-year. The performance follows a historic high in 2025, when full-year imports climbed by 1.8% to a record 1,279.4 million tonnes. In 2024, inbound volumes stood at 1,256.4 million tonnes.

The overall expansion in Chinese imports across 2026 was largely front-loaded. AXS Marine vessel tracking figures compiled by Banchero Costa showed an 11.3% year-on-year surge in the first quarter of 2026, after which import growth moderated to 1.1% in the second quarter and 0.5% in the third quarter. Despite the quarterly deceleration, China retained its overwhelming prominence in the commodity trade, accounting for approximately 75% of global iron ore demand.

Capesize Dominance and Terminal Discharges

Heavy tonnage remained the cornerstone of China’s import logistics. Capesize bulk carriers (130,000–220,000 deadweight tonnes) moved 71% of all inbound iron ore volumes into China between January and September 2026. Very Large Ore Carriers (VLOCs, over 220,000 dwt) handled a further 21% of the volume. Smaller vessel categories carried the remainder: Post-Panamaxes took 3%, Supramaxes accounted for 3%, and Panamaxes carried 2%.

Discharge activity remained concentrated across northern and eastern coastal hubs. Caofeidian was the largest receiving terminal during the nine-month period, handling 115.6 million tonnes. Tangshan/Jingtang ranked second with 91.3 million tonnes, followed by Lanshan at 81.0 million tonnes and Ningbo/Zhoushan at 80.9 million tonnes. Other primary import ports included Tianjin (64.1 million tonnes), Rizhao (58.2 million tonnes), Lianyungang (57.2 million tonnes), Dongjiakou (54.4 million tonnes), Huanghua (45.1 million tonnes), Fangcheng (39.5 million tonnes), and Zhanjiang (38.8 million tonnes).

Supply Dynamics Across Major Exporters

Australia maintained its position as China’s leading supplier, securing a 62.7% market share. Chinese imports of Australian ore rose by 1.9% year-on-year to an all-time high of 606.5 million tonnes during January–September 2026, up from 595.0 million tonnes in the comparable 2025 period. Port Hedland served as the premier loading facility, contributing 354.2 million tonnes of cargoes bound for China.

Brazil retained second place with a 21.5% market share, delivering 208.3 million tonnes to China—a 5.1% rise from 198.2 million tonnes a year earlier. Ponta da Madeira was the primary Brazilian export port, loading 78.2 million tonnes destined for Chinese terminals. Among other origins shipping to China, Peru recorded a 49.6% surge to 18.5 million tonnes, while Indian shipments climbed 12.4% to 19.4 million tonnes. Conversely, Chinese intakes from South Africa fell 7.1% to 23.4 million tonnes.

Worldwide seaborne iron ore loadings grew at a more modest pace overall, advancing 1.0% year-on-year to 1,279.2 million tonnes in the first nine months of 2026, following a 3.5% rise to 1,732.0 million tonnes across 2025. Across global loading regions, Australian outbound volumes rose 2.2% to 713.0 million tonnes, while Brazil contracted 1.5% to 284.3 million tonnes and Canada fell 8.0% to 43.7 million tonnes.